MORNING NEWS CALL

FACTORS TO WATCH

9:15 am: Zim Laboratories listing ceremony in Mumbai.

10:00 am: Shipping Secretary Gopal Krishna and Rural Development Secretary Amarjeet Sinha to inaugurate

workshop on Skill Development in the Port and Maritime Sector in New Delhi.

11:30 am: Commerce and Civil Aviation Minister Suresh Prabhu to interact with select media on four years of NDA

government in New Delhi.

4:00 pm: Finance Minister Piyush Goyal, Financial Services Secretary Rajiv Kumar and SBI Chairman Rajnish Kumar

to interact with media in Mumbai.

5:00 pm: RBI to release weekly foreign exchange data in Mumbai.

LIVECHAT- INVESTMENT OUTLOOK

Andrew Milligan, head of global strategy at Standard Life Investments shares his investment strategy thoughts at 2:30

pm IST. To join the Global Markets Forum, click here.

INDIA TOP NEWS

Reliance sees consumer business powering profits over next decade

Reliance Industries aims to make its consumer businesses as big as its core energy operations, chairman Mukesh

Ambani said in its annual report, as he seeks to reshape the industrial powerhouse.

ANALYSIS-India rate hike upsets Modi's election year budget maths

The Indian central bank's first interest rate rise since Prime Minister Narendra Modi came to power could not have come

at a worse time for a government grappling with spending constraints, voter discontent in the rural heartlands and rising

oil prices.

EXCLUSIVE-Philip Morris plans to target Indian smokers with iQOS device-sources

Philip Morris International is planning to launch its iQOS smoking device in India, four sources familiar with the matter

told Reuters, as the tobacco giant seeks a foothold in a country with the world's second-biggest smoker population.

Ailing carrier Air India seeks 10 billion-rupee short-term loan

State-run carrier Air India is seeking a short-term loan of 10 billion rupees so it can continue day-to-day operations,

according to an announcement on its website on Thursday.

India seeks Facebook's response over reports of data sharing without consent

India has asked social media company Facebook respond by June 20 to media reports of sharing users data without

their explicit consent, a government statement said on Thursday.

GLOBAL TOP STORIES

G7 leaders set to clash with combative Trump over tariffs, trade

Leaders of the Group of Seven rich nations are set to clash with a combative U.S. President Donald Trump on Friday

when they pressure him to lift sanctions on steel and aluminum they fear could lead to a trade war.

Chinese phone maker ZTE saved from brink after deal with U.S.

China’s No. 2 telecommunications equipment maker ZTE secured a lifeline from the Trump administration on Thursday

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after agreeing to pay a $1 billion fine and overhaul leadership in a deal that will lift a ban on its doing business with U.S.

suppliers.

Revised data shows Japan's economy still at risk of recession

Revised data showed Japan's economy contracted at an annualised 0.6 percent in the first quarter, unchanged from the

preliminary estimate, raising the prospect of a recession if weakness persists in April through June.

STATE OF THE MARKETS

The SGX Nifty nearest-month futures were trading at 10,707.50, down 0.6 percent from its previous close.-NewsRise

The Indian rupee is expected to open lower against the dollar, weighed by the rise in crude oil prices to one-week highs

and broad losses in emerging market currencies.-NewsRise

Indian government bonds are likely to edge lower ahead of a fresh supply of bonds today. The yield on the benchmark

7.17 percent bond maturing in 2028 is likely to trade in 7.97 percent- 8.02 percent band till the debt auction outcome, a

trader with a private bank said. -NewsRise

The S&P and Nasdaq fell on Thursday as the technology sector snapped a rally while investors turned to safer bets as

they kept an eye on global trade tensions and waited for U.S. and European central bank meetings.

Asian shares stepped back from a 2-1/2 month high as risk appetite soured on bets that Europe's massive monetary

stimulus was nearing an end, compounded by uncertainty over trade relations ahead of a key meeting of global leaders.

The dollar wallowed near a three-week low against peers as U.S. Treasury yields fell sharply, while the euro's recovery

remained intact amid expectations that the European Central Bank would begin unwinding it stimulus programme.

U.S. Treasury yields fell on Thursday in a volatile session, reversing the prior day's sell-off, as safe-haven demand rose

on tensions between the United States and its major trade partners ahead of the Group of Seven summit.

Oil prices rose, driven up as Venezuela struggles to meet its supply obligations and by ongoing voluntary output cuts led

by producer cartel OPEC.

Gold prices were largely unchanged as investors remained cautious ahead of key events next week such as a U.S.

Federal Reserve policy meeting and a summit between the United States and North Korea.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 67.03/67.06 June 7 -$77.88 mln -$52 mln

10-yr bond yield 8.15 pct Month-to-date $485.68 mln -$102.21 mln

Year-to-date $241.03 mln -$4.33 bln

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PICTURE OF THE DAY

A boy plays in front an image of Brazil's soccer player Neymar painted on a wall in an alley at a slum area, ahead of the FIFA World Cup, in Kolkata, June 7. REUTERS/Rupak De Chowdhuri